Tuesday, May 1, 2012

Toronto’s Budgeting and Accounting Systems Unbalanced

Having an Operating Budget Surplus of $ 292 Million coupled with a Capital Deficit of $ 2.4 BILLION should demand that immediate changes are legislatively required to reign in Toronto councillors ability to unnecessarily add new taxes on already overburdened property and business taxpayers.

The reality is that City government and the City of Toronto Act has to be amended in order for this Mayor or any proceeding Mayor to succeed.

Toronto must be direct by the province to ensure that spending for maintaining and protecting the City’s infrastructure and ensuring that services demanded by the citizens of Toronto will be delivered in a sustainable manner.

To do this the province should immediately introduce legislation that legally stipulates and requires that the City of Toronto MUST apply any and all yearly operating surpluses against long term existing debit for capital budgets.

If this had been in place today Toronto would have by now eliminated $1.290 Billion from the current tax payer supported debt of $2.4 Billion dollars.

The future for the City’s budgeting process for all departments, agencies, commissions Boards etc. must be changed to a ZBB from the current outdated historical incremental budgeting system in which the new budget starts with the balance at least equal to the previous year’s total balance or estimate.

The Zero base budgeting (ZBB) process commences with the budget development system in which all departments, services and programs within the budget start with a heading of zero and detects inflated budgets and has a greater political control over executives, managers, services and programs.

It would further assist in channelizing the City’s ample existing tax revenues from low priority to high priority areas.

Councillors’ continued outrageous practice of increasing spending at an average rate of 5.21% annually since 2003 over revenues represents a 1.9% ABOVE INFLATION RATES because of their chronic ingratiating appetite to spend our money.

Each unnecessary 2% increase in tax rates since 2003 has siphoned over $22 MILLION DOLLARS from Toronto Renters, Condo, Single Family Homeowners and Businesses alike.

We must all remember that since amalgamation incumbent councillors have approved spending by 64.23%, introduced unnecessary new taxes when the problem remains one of spending and not revenues at Toronto council.

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About Me

Peter a co-founders of Ellis Clarke International one of the largest privately held facilitation firms in the world.

Peter Clarke believes integrity in professional and social settings is a key to success and has experience working with companies ranging in size from start-ups to multi-billion dollar international conglomerates.

Clarke himself is a leading global facilitator with experience in business and economics in the private & public sectors. Peter CLARKE as a committed, proud and determined individual; politically believes in Individualism.

Peter has the fortitude to tackle controversial issues from the human perspective as opposed to being simply a puppet for a political party or special interest groups.

" I strongly believe elected public office must ensure Openness, Financial Prudence and Accountability for efficient delivery of mandated services for taxpayers at the best competitive cost."

“And in Individual Freedoms, Privacy and Transparency by Corporations, Union leaders and Governments'.”

“All people are created equal and equally imperfect but we still have unequal laws created by unjust people,” Peter Clarke 2014.

“No one can control the passage of time, however one can control what one does with time as it passes, so in 2011 make every day one to be proud of,” Peter Clarke 2011.

“Money left in the hands of taxpayers is far more productive than putting it in the hands of career politicians, special interest groups or bureaucrats,” Peter Clarke 2011.

“All people are created equal but we still have unequal laws created by unjust people,” Peter Clarke 2010

“Rewarding failures at the cost of success, leads to continued failures at taxpayers’ expense.” Peter Clarke 2010

“All People are created equal and equally imperfect,” Peter CLARKE 2010

“Unlimited power controls the corruption and minds of those who influence it. “ Peter Clarke 2009